MasterCard introduces authentication security measures for online checkout
Mastercard has introduced a digital commerce solutions suite that enhances the security of stored card credentials, advances authentication to reduce checkout errors, and speeds the online checkout experience, according to a press release.
The company will enable token services on all cards by 2020 to make online transactions simple, seamless and secure. With token services, consumers can store their card credentials with a merchant or retailer without the risk of exposing actual card account details, adding another layer of security to online transactions without removing the convenience. It also prevents service disruptions with a consumer’s favorite merchants by automatically updating card credentials should a card expire or need replacement, the release said.
Together with banks, merchants and payment service providers, Mastercard is bringing EMV-like security to digital environments. The company is working with Adyen, BlueSnap, Digital River, Stripe, Square, Worldpay and Mastercard Payment Gateway Services to extend tokens to thousands of retailers. According to the release, it is also working directly with issuers such as Citi and Fifth Third Bank to convert cards on file into tokens, and with Bank of America to provide enhanced fraud scoring to help increase approval rates over time.
Mastercard is also leveraging technology such as biometrics and artificial intelligence to enable merchants and issuers to verify a consumer is who they say they are, thereby reducing falsely declined transactions and delivering a better consumer experience, the company said. Mastercard Identity Check provides merchants and issuers an easy way to support the new EMV 3-D secure standard and leverage enhanced security solutions to determine potential risks and ensure more transactions can be completed with a single touch or click.
The company has worked with issuers and merchants in the U.S. and Europe to enable the technology, and has partnered with merchants and issuers across the globe to begin rolling out the technology in early 2019, the release said.
The company will begin to roll out its solution based on SRC in the second half of 2019. Its Masterpass acceptance network supports this rollout, delivering a consistent checkout experience for consumers and reducing the multiple steps they face at different sites today. SRC will also make it easier for merchants to implement and securely store tokens on file and improve their approval rates. This supports a move toward a token-only world by building on the tokenization standards. Masterpass acceptance is compatible with SRC.
Mastercard is also working to ensure consumers are made aware which card they have set with card on file merchants with the introduction of new digital branding requirements. The requirements ensure a consumer is aware they are paying with a Mastercard credential during the checkout process whether it’s in-app, via browser, contactless, voice-enabled devices or a QR application.
“Adyen was the first to launch Automatic Billing Updater Direct with Mastercard and we are thrilled to now add tokenization capabilities. We see these integrations as important steps to ensure a seamless digital commerce experience for consumers backed by best in class security and transparency,” Kamran Zaki, president of Ayden North America,, said in the press release.